Fishtank Season 2 is currently in pre-production with the Season 1 release coming soon Sam Hyde, Jet Neptune, and Bill Ottman have released a pitch video for the investment opportunity.
In short: ~70,000 customers, $1.25 million in revenue, and ~600,000 unique visitors. The investment pays out in any liquidity event such as a sale of the company or IPO.
You might be thinking “how can you value a startup company with just 3 numbers?” Well we have a few more numbers, but nothing rock solid as the wefunder site contains no additional useful information just fluff about how the next season will have an app to make the show more interactable.
Based on these speculative posts we can assume the costs of production before paying any of the core team ran anywhere from $250,000 to $595,000. If the team took modest salaries then we can safely assume Fishtank does have positive cashflow which is more than a lot of startups can say. What I can’t agree with is the other details from Wefunder.
The valuation cap is $37.5 million for money put in a SAFE agreement which is an incredibly one sided valuation. For something comparable the entire music catalogue of the Shrek movies (768 songs) is worth about $4,000,000.
Ah yes a SPV (Special Purpose Vehicle) the thing Enron used to hide that they were a failing company. No confirmed dividends, high valuation cap, not enough solid numbers, and duper’s delight smile. This is Mondo Megabits all over again. Great content bad investment.